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File #: 22-4065    Name:
Type: Consent Item Status: Agenda Ready
File created: 4/25/2022 In control: City Council
On agenda: 5/3/2022 Final action:
Title: ADOPT BY TITLE ONLY RESOLUTION NO. CC-2205-023, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDONDO BEACH, CALIFORNIA, LEASING CERTAIN PROPERTY TO PHONG HOONG, AN INDIVIDUAL, DBA MINI CHINESE RESTAURANT APPROVE THE LEASE WITH PHONG HOONG, AN INDIVIDUAL, DBA MINI CHINESE RESTAURANT, FOR A MONTHLY MINIMUM RENT OF $1,618.76 AND A TERM OF MAY 3, 2022 THROUGH APRIL 5, 2026
Attachments: 1. Administrative Report, 2. Reso - Mini Chinese 050322 f (002), 3. Lease - Phong Hoong dba Mini Chinese w Ex 050322 f (003), 4. Lease Between the City of Redondo Beach and Tony Tran an individual dba Mini Chinese Restaurant (1)
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To: MAYOR AND CITY COUNCIL
From: GREG KAPOVICH, WATERFRONT & ECONOMIC DEVELOPMENT DIRECTOR

TITLE
title
ADOPT BY TITLE ONLY RESOLUTION NO. CC-2205-023, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDONDO BEACH, CALIFORNIA, LEASING CERTAIN PROPERTY TO PHONG HOONG, AN INDIVIDUAL, DBA MINI CHINESE RESTAURANT

APPROVE THE LEASE WITH PHONG HOONG, AN INDIVIDUAL, DBA MINI CHINESE RESTAURANT, FOR A MONTHLY MINIMUM RENT OF $1,618.76 AND A TERM OF MAY 3, 2022 THROUGH APRIL 5, 2026
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EXECUTIVE SUMMARY
In 1995, the City of Redondo Beach ("the City") purchased the Fisherman's Wharf Leasehold which includes the 200 block of Fisherman's Wharf. The leasehold is comprised of several buildings that total approximately 13,000 square feet of leasable space. The space at 204 Fisherman's Wharf ("Premises") is approximately 283 square feet and has accommodated a fast-food use for decades. Mini Chinese Restaurant currently operates at the Premises and the current owner, Tony Tran, desires Phong Hoong to take over ownership of the business.

The proposed new 47-month lease reflects the remaining term of the five-year lease that was approved by City Council on April 6, 2021. The City retains the option to terminate the lease with twelve (12) months prior written notice. Rental to the City's Harbor Tidelands Fund is the greater of the minimum monthly rent of $1,618.76 or 11% gross sales. Minimum annual rent is $19,425.12.

BACKGROUND
In 1995, the City purchased the former Redondo Horseshoe Pier Company leasehold containing the buildings from 200 to 250 Wharf on the Redondo Beach Pier. The approximately 13,000 square feet of leasable space is made up of retail, restaurant and entertainment uses.

Mini Chinese Restaurant ("Tenant") currently operates on the pier and has become a familiar location for fast food since it opened in 1984. The restaurant was formerly owned by individuals Canny Tran and Tony Tran. With the retirement of Canny Tran, the City entered into ...

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